auto-allocation for basket trading

Discussion in 'Trading Software' started by stevenpaul, May 12, 2010.

  1. Hi traders,

    I'm looking for a charting platform and/or API trading interface to use for "basket trading." So far, I haven't been able to find anything suitable for my purposes. Using IB's basket-trading feature, one can place several orders simultaneously, but it is necessary to calculate the number of shares by hand. I want a trading interface that will evenly distribute a pre-established amount of cash equally between the various securities of a list. For example, I have $1000 in my account and want to buy 4 stocks, spending $250 on each one. Currently, I have to divide $250 by the the current stock price in order to derive the correct number of shares. Not only is that rather hectic, but by the time I've done it for all 4 stocks, the prices may have changed. Is there a platform that will at least tell me how many shares I can buy for $250 at the current valuations, and if so, might it also be able to place the basket trade, as well?

    Thanks for any input you may have,